IGI Logo

TECHNICAL OUTLOOK

* Benchmark index closed with 1% gain after a volatile session at 17805 level. Banking index performed in line with the benchmark index as it closed with 1.1% gain at 36840 level

* India VIX closed with 1.2% cut at 16.2 level

* Among Sectors, NIFTYPSE index outperformed the benchmark index as it closed with 1.6% gain while PHARMA and REALTY index lagged as they closed with 0.8% and 0.5% cut respectively. In the broader market, both MIDCAP and SAMLLCAP index underperformed benchmark index as they closed with 0.3% gains each

* Advance/Decline ratio was in favour of advances and cash turnover was higher than 5-day average. Both FII and DII were net buyers in the cash segment

* European markets (DAX) and US markets (DJIA) closed higher yesterday. However, Asian Markets are trading mixed today.

NIFTY (Daily) Chart

Intraday Market Outlook

* Benchmark index is likely to see some pullback today after sharp gains in previous three trading sessions. Index has support at 17650 - 17550 level and resistance at 17900 - 18000 level.

* Banking index is likely to trade in line with benchmark index today with support at 36400 - 36200 level and resistance at 37200 - 37400 level.

* HINDUNILVR has closed with bullish candlestick formation and trading above 21 EMA. It is likely to continue its positive momentum today as well.

BANK NIFTY (Daily) Chart

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at  https://www.mnclgroup.com/disclaimer

SEBI Registration Number : INZ000043833

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer